ToplineJamshid Ghomi, a U.S.-Iranian national and CEO of a Tehran-based tech firm, was arrested Wednesday over allegations he funneled U.S. networking and encryption equipment to Iran’s nuclear program and military while laundering millions of dollars. Ghomi’s Newport Beach mansion.Department of JusticeKey FactsGhomi, 63, was charged with conspiracy to violate the International Emergency Economic Powers Act,…
Billions of dollars in tariffs are heading back to importers. And some of America’s biggest companies are making clear they won’t be keeping the money. Costco Wholesale and United Parcel Service are among the companies that have stepped forward with direct commitments to pass tariff refunds on to …
Google’s strength in search is undeniable, and arguably unshakable. However, its years-long push into AI is generating controversy, and in some cases, pushing customers away altogether. While Google commands over 90% of the search engine market, distrust of AI and complaints of “enshittification” …
Trading Day: War clouds and tech wobbles
US Senate advances ICE bill as Democrats aim to make Trump a liability for Republicans
In a quick-commerce market obsessed with speed, Indian startup FirstClub has convinced investors that quality may be a fresh opportunity, helping to double its valuation just nine months after its last funding round. The Bengaluru-based startup has raised $55 million in a Series B round co-led by Peak XV Partners and Sofina, valuing the company…
ToplineCardano’s ADA token, once the world’s third-largest cryptocurrency, extended losses on Wednesday as it traded near a six-year low following the cancellation of its flagship conference and a broader crypto market selloff. Cardano’s market value has plummeted by more than $80 billion in recent years. NurPhoto via Getty ImagesKey FactsThe value of Cardano dropped 2.3%…
Defense tech is red hot right now. Anduril and Mach Industries just doubled and quadrupled their valuations, respectively, and the U.S. government is proposing a 40% increase in defense budget. A wave of new startups is chasing those government contracts, but according to Ross Fubini, the venture investor who wrote Anduril’s first check, most of them will get lost in the Valley of Death between prototype contract…
The Bureau of Economic Analysis released its April 2026 Personal Income and Outlays report on May 28, 2026, showing prices climbing faster on an annual basis, disposable income contracting, and the personal saving rate falling for a fourth straight month to a multi-year low. The April figures …
Darshana Zaveri and Josh Phillips, co-Managing Partners Courtesy of Catalyst Health VenturesOn a Saturday night, at a party, Josh Phillips’s phone lit up with a text message from one of his CEOs. We just saved a life. Attached was a photo of a blood clot, pulled from a patient’s heart because of a device his…
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